Beach Energy has strengthened its strategy to increase gas supply to the Australian domestic market after being awarded three large exploration blocks in the Cooper Basin alongside Santos.
The Queensland Government today announced Drillsearch Energy, a wholly owned subsidiary of Beach, and Santos QNT as the preferred tenderers for the acreage.
Located in the Queensland section of the Cooper Basin, the blocks are close to existing infrastructure and will add nearly 7000 square kilometres to the joint venture’s portfolio, complementing established and proven exploration plays.
“The acquisition of these blocks improves both our Cooper Basin JV exploration portfolio and captures an existing field extension recognised by the joint venture,” Beach CEO Brett Woods said.
“It aligns with Beach’s strategy to supply more gas to the domestic market as we progress our vision to become Australia’s leading supplier of domestic energy.
“During the past five years, Beach has invested about $3.5 billion to deliver new natural gas supply to the domestic market and is committed to responding to the increasing demand for gas on Australia’s east coast.
“The location of the blocks allows any exploration success to be tied-back to nearby Cooper Basin Joint Venture infrastructure for rapid commercialisation and the large blocks cover multiple working exploration play fairways to be matured in due course.
“I commend the Queensland Government on their proactive approach to the release and award of acreage for exploration which is a key pillar to ensuring an affordable and reliable energy supply for Australian manufacturers, business and households.”
The awarding of the blocks comes after Beach announced a drilling rig at the Beach operated Cooper Basin Western Flank had achieved early success from an expanded 12-well oil appraisal and development campaign. This campaign will be followed by a 10-well oil exploration campaign FY26 and early FY27.
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